HCW Biologics Inc. (NASDAQ:HCWB) Short Interest Update

HCW Biologics Inc. (NASDAQ:HCWB) was the recipient of a significant decline in short interest in the month of June. As of June 30th, there was short interest totaling 41,709 shares, a decline of 85.9% from the June 15th total of 296,814 shares. Based on an average daily volume of 197,573 shares, the days-to-cover ratio is presently 0.2 days. Approximately 2.9% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of analysts have recently weighed in on HCWB shares. Maxim Group increased their price objective on shares of HCW Biologics from $12.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of HCW Biologics in a research report on Tuesday, April 21st. Finally, Wall Street Zen raised HCW Biologics to a “hold” rating in a report on Saturday, May 23rd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, HCW Biologics has a consensus rating of “Hold” and an average price target of $30.00.

Insider Buying and Selling

In other news, Director Scott T. Garrett bought 29,656 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were purchased at an average price of $8.46 per share, for a total transaction of $250,889.76. Following the completion of the transaction, the director directly owned 33,906 shares in the company, valued at approximately $286,844.76. This represents a 697.79% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 9.10% of the stock is currently owned by corporate insiders.

Institutional Trading of HCW Biologics

A hedge fund recently bought a new stake in HCW Biologics stock. Armistice Capital LLC bought a new stake in shares of HCW Biologics Inc. (NASDAQ:HCWB) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 300,180 shares of the company’s stock, valued at approximately $291,000. Armistice Capital LLC owned approximately 9.15% of HCW Biologics at the end of the most recent reporting period. 2.96% of the stock is currently owned by hedge funds and other institutional investors.

HCW Biologics Stock Performance

NASDAQ HCWB traded down $0.13 during mid-day trading on Monday, reaching $4.42. 37,209 shares of the stock were exchanged, compared to its average volume of 127,229. The company has a market capitalization of $7.07 million, a P/E ratio of -0.08 and a beta of 2.29. The business’s 50 day moving average is $7.27 and its 200-day moving average is $5.57. HCW Biologics has a 1 year low of $1.50 and a 1 year high of $44.10.

HCW Biologics (NASDAQ:HCWB) last issued its quarterly earnings data on Thursday, May 14th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of ($2.64) by $3.01. HCW Biologics had a negative net margin of 34.73% and a negative return on equity of 486.87%. The business had revenue of $6.54 million during the quarter, compared to the consensus estimate of $6.54 million.

HCW Biologics Company Profile

HCW Biologics Inc, a clinical-stage biopharmaceutical company, focuses on discovering and developing novel immunotherapies for chronic, low-grade inflammation, and age-related diseases in the United States. The company's lead products include HCW9218, which is in Phase 1 clinical chemo-refractory/chemo-resistant solid tumors with pancreatic, ovarian, breast, prostate, and colorectal cancers, as well as Phase 2 clinical trial with metastatic advanced stage ovarian cancer patients; and HCW9302 for autoimmune and proinflammatory diseases, such as alopecia areata diseases.